CBS: Israel economy grew 0.8% in first quarter

The Central Bureau of Statistics (CBS) announced on 16 May that Israel’s economy grew at an annualized rate of 0.8% during Q1/16. According to the CBS this is in an initial estimate for the first quarter in comparison with the fourth quarter of 2015, seasonally adjusted.

This is also a much lower growth rate than the Ministry of Finance forecast for the year as a whole. The Ministry’s forecast stands at 2.8%.